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Arvind Krishna, Chairman and Chief Executive Officer of IBM (International Business Machines Corporation), has been elected to the Federal Reserve Bank of New York’s Board of Directors. Krishna will fill the vacancy in the office for the remainder of a three-year term ending December 31, 2023, according to the New York Fed. The Federal Reserve […]
Institutional investors flocked to buy shares in India’s state-run insurance giant Life Insurance Corporation (LIC) in a $2.75 billion (£2.18 billion) initial public offering. Bidding for anchor investors began on May 2, but the general share auction begins on May 4 and ends on May 9. Because of the Ukraine crisis and the outflow of […]
According to the World Bank’s newest Commodity Markets Outlook report, the war in Ukraine has thrown a big wrench in commodity markets. It has caused global patterns of trade, production, and consumption to shift in ways that will keep prices at historically high levels until the end of 2024, causing stagflation. It is a condition […]
According to the latest government data, Japan’s average employment availability ratio improved for the first time in three years in fiscal 2021, owing to the steady economic recovery from the effects of the coronavirus outbreak. The world’s third-largest economy has been battling to recover from the COVID-19 pandemic, with the Ukraine conflict aggravating the troubles. […]
Vy Capital and Sequoia Capital led a $675 million fundraising round for Elon Musk’s tunneling business Boring Co. According to a press release issued on Wednesday, the round values the firm at $5.675 billion. The round also included Valor Equity Partners, Founders Fund, 8VC, Craft Ventures, and DFJ Growth. The Boring Company (TBC) was founded […]
Dubai’s Department of Economy and Tourism (DET) revealed in its first-quarter report that the Business Registration and Licensing (BRL) sector has issued 24,662 new business licenses. That marks a remarkable 58% growth compared to the first quarter of last year. In Q1 2021, BRL issued a total of 15,850 licenses. According to the report, professional […]
Dubai’s government authorities are now mandated by law to provide digital services to their citizens. Law No. (9) of 2022 was issued by His Highness, the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates. The law aims at bolstering the emirate’s digital transformation, […]
Elon Musk disclosed on Monday that he had bought a 9.2% passive stake in Twitter Inc. Musk holds 73,486,938 shares of common stock in his personal capacity, according to a regulatory filing. This makes him Twitter’s largest shareholder. As a passive investor, Musk typically should not play an active part in running the company. However, […]
The cloud security innovator Orca Security, has announced its extended Series C fundraising of $550mn led by Temasek, a Singaporean investment company. The funding round brings the 2-year-old company’s total raised to $632 million and boosts its valuation to $1.8 billion. It joins the ranks of L.A. tech companies like Whatnot Inc. and Liminex Inc., […]
The Dubai Department of Finance (DoF) announced a new public-private partnership ( PPP ) project portfolio worth over Dhs25bn across several vital sectors. The portfolio includes more than 30 projects in the public transportation, infrastructure, and urban development sectors. The latest projects were announced at the Dubai International PPP Conference being held at Expo 2020, […]
The German conglomerate JAB Holding company plans to invest $5 billion to expand transactions in petcare sector. The holding company runs Panera Bread, Pret A Manger and Krispy Kreme. The establishment that oversees the assets of German billionaire Rayman family Over the past seven years, two people who are directly aware of the issue have […]
The leading global provider and manager of alternative investment products, Investcorp, announced that it has successfully completed the acquisition of a portfolio of seven UK industrial assets (“the Portfolio”) from Custodian REIT, for £32.6 million. The Portfolio comprises two multi-let and five single-let industrial properties located in Bedford, Warrington, Stone, Gateshead, Stockton-on-Tees, Christchurch and Aberdeen. […]
